People overvalue things they own compared to identical items they don’t own.
Customers place higher value on their own possessions, affecting pricing and purchase decisions.
Leverage ownership.
Offer free trials or customization to increase attachment.
Use personalized experiences.
Make customers feel invested before purchase.
Frame loss aversion.
Highlight what they’d lose by switching or not upgrading.
Related biases
Behavioral Biases
Design with behavior, not against it.
Explore more biases, or work with us to apply behavioral science to your customer experience.